Gold

The bearish outlook :

Gold has more likely formed the top of corrective wave ii above its Fibonacci 0.618 retracement level at 1197.1, and now is poising to fall in impulsive wave iii ahead.

Note : I’ve explained the overlapping waves down, in a leading diagonal as first wave in progress. Because the anticipated triangle as the micro degree wave B seems to have failed.

Gold - Intraday 120

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